Deere & Co. Stock Rating Lowered by Argus (DE)

Deere & Co. (NYSE:DE) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a report released on Thursday, reports. They currently have a $380.00 target price on the stock, down from their previous target price of $402.00. Argus’ price objective indicates a potential upside of 361.50% from the stock’s previous close.

Shares of Deere & Co. (NYSE:DE) traded up 2.53% on Thursday, hitting $84.425. The stock had a trading volume of 5,406,968 shares. Deere & Co. has a 52-week low of $73.14 and a 52-week high of $95.60. The stock has a 50-day moving average of $82.80 and a 200-day moving average of $86.80. The company has a market cap of $32.761 billion and a P/E ratio of 10.13. Deere & Co. also was the recipient of some unusual options trading activity on Tuesday. Traders acquired 14,282 put options on the stock. This represents an increase of approximately 181% compared to the average daily volume of 5,076 put options.

Deere & Co. (NYSE:DE) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $2.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.17 by $0.39. The company had revenue of $10.01 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the previous year, the company posted $1.98 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts predict that Deere & Co. will post $8.53 earnings per share for the current fiscal year.

A number of other firms have also recently commented on DE. Analysts at Barclays Capital cut their price target on shares of Deere & Co. from $101.00 to $90.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Separately, analysts at UBS AG downgraded shares of Deere & Co. from a “neutral” rating to a “sell” rating in a research note to investors on Friday, August 9th. They now have a $72.00 price target on the stock, down previously from $96.00. Finally, analysts at ISI Group downgraded shares of Deere & Co. from a “buy” rating to a “neutral” rating in a research note to investors on Friday, August 9th.

Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $111.47.

Deere & Company (NYSE:DE) along with its subsidiaries, operates in three segments: agriculture and turf, construction and forestry and financial services.

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